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Rubis builds up its financial capabilities through an "equity line"


Rubis has put in place with Calyon an "Equity line" aiming at securing through split equity issues the subscription of a maximum of 1,082,174 new shares (below 10% of current equity capital).

For each equity issue, the issue price will be calculated on an 8% discount to the weighted average share price calculated on the 3 previous quotation days.

Each equity issue won't exceed 1% of Rubis' free float and be in relation with the stock liquidity observed during the previous days. The newly issued shares - which are not intended to be held by Calyon - will be ultimately placed on the market.

This programme will last for 18 months and could be extended for a maximum period of 3 years provided duly authorisations of the 2011 AGM.

On the basis of the current share price, total equity issues which could be realized through this "Equity line" could reach 60 M€. On the basis of the last published set of accounts of Rubis (30 June 2009), net asset value per share is estimated to increase by around 3%.

This scheme enlarges and brings more flexibility to existing financing capabilities in place currently within the Group, being managed according to Rubis needs.

More particularly it fits with the financing of the construction projects in Rotterdam and Antwerp which have gained momentum.

In addition to this Rubis' has secured bank credit lines for a total amount of 200 M€ in order to finance potential acquisition projects.

Next update: 2009 fourth quarter turnover on 8 February 2010

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